reporter
Posted:
- One Solana whale has accumulated over 170,000 SOL in the last 24 hours.
- At the time of writing, SOL was trading at around $134.
Solana (SOL) was one of the best performing assets in the last trading session and has continued its momentum as of the time of writing this article.
This trend was primarily driven by the price movements of SOL and the significant whale accumulation observed over the last 24 hours.
Solana, the top trending asset
According to data from Santiment, Solana was one of the most popular assets on September 9, ranking as the 4th most popular asset..
However, by the end of the trading session, it had climbed to number 6. The data also showed that Solana had a positive sentiment of over 65%, reflecting strong optimism surrounding the asset.
As of this writing, SOL continues to rank as one of the top trending assets, holding the 6th spot with over 63% positive sentiment.
Additionally, social media volume increased by over 3%, meaning Solana accounted for over 3% of all discussions in the cryptocurrency space.
Strong positive sentiment and increased social activity suggest that traders and investors are watching SOL closely, which could further fuel price action.
Solana, up more than 3%
AMBCrypto analyzed Solana’s price trends on daily charts and found out why it is one of the most popular assets.
SOL rose 3.81% in the last trading session, settling at $135 at the time of writing. This marked Solana’s third consecutive day of price gains.
Source: TradingView
At the time of writing, SOL is trading at around $134, representing a slight decline of less than 1%. This slight decline follows the uptrend of the past few days.
Despite the slight decline, SOL still showed a bearish trend, and this bearish momentum appears to be weakening.
Solana’s Relative Strength Index (RSI) analysis shows that it is approaching the neutral line, indicating that the asset’s bearish momentum is weakening.
If the RSI continues to trend towards the neutral line, it may signal a potential change in price trend or consolidation.
Whales sweep up more SOL
According to Solscan data, whales have been actively accumulating Solana over the past 24 hours. Notably, this whale address has acquired approximately 170,666 SOL tokens, worth approximately $23 million.
Is your portfolio green? Check out the SOL profit calculator
Such whale activity is often a sign of confidence in future price movements, which may have contributed to SOL’s upward momentum.
This meaningful move may be one of the key factors behind Solana’s recent rise as a hot asset.